Saudi Telecom Company SJSC

Saudi Arabian shares ended higher on Sunday, outperforming other Gulf peers, buoyed by gains in banking stocks, while Egypt's blue-chip index extended losses.

Major Gulf stock markets were little changed in early trade on Sunday, though the Saudi index was up 0.4% to extend gains from the previous four sessions.

Most major Gulf stock markets fell on Sunday, led by the Abu Dhabi bourse, while Saudi Arabia closed higher supported by gains in telecom and healthcare shares.

Major stock markets in the Gulf were mixed early on Monday in thin trade ahead of Eid al-Fitr holidays, with the Saudi index supported by financial shares.

Major Gulf stock markets ended mixed on Sunday, with Qatar registering sharp losses following a surge in the previous session when it removed a cap on foreign ownership, while blue-chip Egyptian shares boosted the main index.

Saudi Arabia's plan to push its top companies to invest $1.33 trillion in the kingdom by 2030 by cutting dividends may accelerate economic diversification efforts but could also risk dimming the allure of local stocks for investors.

When CSG opted to shift its regional headquarters this year from Dubai to Riyadh, it marked an early win for Saudi Arabia and proved a surprisingly easy move for the U.S. technology firm: the new office was up and running in just two months.

It seems an unlikely vision, a megacity in the desert with no cars or roads, all run by machines that can recognise your face.

Saudi Arabia has raised the stakes in a competition with freewheeling Dubai for foreign talent and cash.

A requirement for foreign firms to have a regional HQ in Saudi Arabia to qualify for state contracts from 2024 is the latest in a series social and economic reforms intended to modernise the conservative kingdom and diversify its oil-dependent economy.

A requirement for foreign firms to have a regional HQ in Saudi Arabia to qualify for state contracts from 2024 is the latest in a series social and economic reforms intended to modernise the conservative kingdom and diversify its oil-dependent economy.

Saudi Arabia has ratcheted up the stakes in an intensifying competition with neighbouring Dubai for foreign talent and money.

Saudi Arabia's futuristic city project NEOM is in talks with companies to pick a lead partner for its first cloud computing deal that will lay the foundation for hi-tech services in its flagship $500 billion business zone, a senior executive said.

Saudi Telecom Company (STC) will invest up to $500 million over five years in cloud services in partnership with eWTP Arabia Capital fund and Alibaba Cloud company, STC said in a tweet on Monday. (Reporting by Nayera Abdallah. Editing by Mark Potter)

* Tender offer to buy out minority shareholders at 103 euros/share

Saudi Arabia's general authority for competition (GAC) on Monday fined Saudi Telecom Company (STC) 10 million Saudi riyals ($2.67 million), state TV said.

Vodafone said on Monday it had ended talks with the Saudi Telecom Company on the $2.4 billion sale of its 55% shareholding in Vodafone Egypt after a series of missed deadlines to complete the deal.

Vodafone has ended talks with Saudi Telecom Company on the sale of its 55% shareholding in Vodafone Egypt, the British telecoms group said on Monday.

The digital payments business of Saudi Arabia's Saudi Telecom Company (STC), stc pay, is in talks with Gulf regulators to seek approval to operate in the United Arab Emirates, Kuwait and Bahrain, its CEO said on Monday.